Trump Has Tools to Fire Powerful Financial Regulator in Term Two

Rohit Chopra’s crackdowns on illegal car repossessions, home foreclosures and bank overdraft fees made him a hero to consumer groups and a foe of lenders.

But his future as head of the Consumer Financial Protection Bureau is jeopardized now that Republican Donald Trump is returning to the White House. In his second term, the president-elect will have the power to fire Chopra, if he doesn’t resign first, after a US Supreme Court ruling in 2020 made the CFPB director an at-will employee and susceptible to termination for any reason.

“We expect Chopra to be out of his seat ...